Icelandic Low-cost Airline, WOW Air, Collapses

The Icelandic budget carrier WOW Air has ceased operations and cancelled all of its flights. The airline announced the closure on its website today, Thursday March 28.

Speaking to the Icelandic TV channel RÚV, the airline’s CEO, Skúli Mogensen, said negotiations to save the airline went on until the early morning but added: “As is normal, people believed we would get the investment. We have been very transparent, but it didn’t happen.”

He apologised to customers and said he was “disappointed not to honour our commitments.”

The travel plans of more than 1,000 passengers are thought to have been affected by the collapse.